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Movano Health Granted Nasdaq Extension To Regain Compliance With Filing By September 30 And $1 Bid Price Rules By October 30, 2025

Benzinga·08/28/2025 20:33:08
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Movano Health (Nasdaq: MOVE)(the "Company") announced today that, by letter received on August 27, 2025, the Nasdaq Hearings Panel (the "Panel") of The Nasdaq Stock Market LLC ("Nasdaq") has determined to grant the Company's request to continue its listing on Nasdaq, subject to (i) the Company regaining compliance with Listing Rule 5250(c)(1), requiring the timely filing of periodic reports (the "Period Filing Rule"), by filing its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025 and June 30, 2025 on or before September 30, 2025, and (ii) the Company demonstrating compliance with Listing Rule 5550(a)(2), requiring the maintenance of $1.00 per share bid price (the "Bid Price Rule"), on or before October 30, 2025.

The Panel's determination follows a hearing on August 19, 2025, at which the Panel considered the Company's plan to regain compliance with the Periodic Filing Rule and the Bid Price Rule. The Company has and continues to work diligently with its new auditor to complete and file with the Securities and Exchange Commission ("SEC") its Quarterly Reports on Form 10-Q for the quarters ended March 31, 2025, and June 30, 2025, and expects to do so within the extension period granted by the Panel. Additionally, on August 19, 2025, the Company filed a Preliminary Proxy Statement for its Annual Shareholders Meeting to be held on September 26, 2025, at which the Company's shareholders will have the opportunity to approve a reverse stock split proposal, the effect of which will allow the Company to demonstrate compliance with the Bid Price rule within the extension period granted by the Panel.